It’s a term we hear and see frequently - we see reference to it in the Sunday real estate section, in advertisements and in conversations with real estate brokers. If you’ve purchased a home before, you’re probably familiar with the benefits and procedures of title insurance. But if this is your first home, you may wonder, “Why do I need another insurance policy? It’s just one more bill to pay.”

The answer is simple: The purchase of a home is most likely one of the most expensive and important purchases you will ever make. You, and your mortgage lender, want to make sure that the property is indeed yours - lock, stock and barrel - and that no individual or government entity has any right, lien, claim to your property.

Title insurance companies are in business to make sure your rights and interests to the property are clear, that transfer of title takes place efficiently and correctly and that your interests as a homebuyer are protected to the maximum degree.

Title insurance companies provide services to buyers, sellers, real estate developers, builders, mortgage lenders and others who have an interest in a real estate transfer. Title companies routinely issue two types of policies - “owner’s”, which cover you, the homebuyer; and “lender’s”, which covers the bank, savings and loan or other lending institution over the life of the loan. Both are issued at the time of purchase for a modest, one-time premium.

Before issuing a policy, however, the title company performs an extensive search of relevant public records to determine if anyone other than you has an interest in the property. The search may be performed by title company personnel using either public records or more likely, information gathered, reorganized and indexed in the company’s title plant.

With such a thorough examination of records, any title problems usually can be found and cleared up prior to your purchase of the property. Once a title policy is issued, if for some reason any claim which is covered under your title policy is ever filed against your property, the title company will pay the legal fee involved in defense of your rights, as well as any covered loss arising from a valid claim. That protection, which is in effect as long as you or your heirs own the property, is yours for a one-time premium paid at the time of purchase.

The fact that title companies work to eliminate risks before they develop makes the title insurance decidedly different from other types of insurance you may have purchased. Most forms of insurance assume risks by providing financial protection through a pooling of risks for losses arising from an unforeseen event, say a fire, theft or accident. The purpose of title insurance, on the other hand, is to eliminate risks and prevent losses caused by defects in title that happened in the past. Risks are examined and mitigated before property changes hands.

This risk elimination has benefits to both you, the homebuyer, and the title company: it minimizes the chances adverse claims might be raised, and by so doing reduces the number of claims that have to be defended or satisfied. This keeps costs down for the title company and your title premiums low.

Buying a home is a big step emotionally and financially. With title insurance you are assured that any valid claim against your property will be borne by the title company, and that the odds of a claim being filed are slim indeed.

Isn’t sleeping well at night, knowing your home is yours, reason enough for title insurance?

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TL

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You are the best agent! We were very fortunate to have you work for us! Thanks for all your hard work!M & C

Just a note to say thanks for your patience and help in finding the right house for us. We couldn't be happier with our new home."
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K.P.

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J and L

Thank you for going the extra mile to make the sale of my house successful. I appreciate all of the effort and time you put into every transaction for me.D.Y.

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S&S

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Thanks,
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"You are the hardest working man in real estate! From the very first meeting with you we were put at ease by your calm demeanor and professional nature. You have been a fabulous listener and a kind director. We are moving into our dream house because of the work you have done for us. We wish you could sell us something else...so we could still get to see you!"Greg and Martha

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Brenda and Dan

" I want to sincerely thank you for all you did during the recent sale of my house. As you know, it was a very tense and emotional time for me. You were there every step of the way to answer questions or discuss concerns, explain what was happening and help find people to perform the work that needed to be done. Your professionalism, calm manor and optimism about the sale helped me through the down times. You also went above and beyond what was called for to ensure the sale. I want you to know this was truly appreciated. I would not hesitate to highly recommend you to anyone buying or selling a home in the area. Thank you again for all the hard work and dedication. I truly could not have asked for more."
Mary Ellen C.

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John and Stacey

"I just wanted to let you know how much I appreciate all you did during the sale of the property. With Dad's illness and passing your friendship and professionalism enabled the brokering to be stress free."
M.L.M

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Thank you so much for all your help getting our new home. We love it here. You helped make buying our home a great experience."
Michelle and Phil - Huntington

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Julia and George

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Krista, Northampton

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